Nikkei 225 hits record and breaks 60,000 for the first time
The Nikkei 225 stock average hit a new record and then quickly retreated on Thursday as investors started to question the durability of a tech-fueled rally that helped push the benchmark index over 60,000 for the first time ever. Within minutes of the open, the Nikkei 225 reached 60,013.98, the new high, with chip-related stocks such as SoftBank Group jumping as trade got underway. Tokyo stocks declined steadily as the morning wore on, with momentum shifting and sentiment turning less positive on expensive tech stocks. The Nikkei 225 ended the day at 59,140.23, down 0.75%.
